AGNC, Oxford Lane on tap; Capital One positive; MetLife preferreds gain

By James McCandless

San Antonio, Feb. 4 – Tuesday’s preferred market session saw volume leaders taking the space higher.

The primary space saw AGNC Investment Corp. price a $500 million offering of $25-par series F fixed-to-floating rate cumulative redeemable preferred stock at par with an initial dividend of 6.125%.

Also, Oxford Lane Capital Corp. announced plans to price an offering of series 2027 term preferred shares.

In first position in the secondary, Capital One Financial Corp.’s recent 4.8% series J fixed-rate non-cumulative perpetual preferred stock was positive.

Elsewhere in the finance space, Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferred stock rose.

Sector peer JPMorgan Chase & Co.’s 6.125% series Y and 6% series EE non-cumulative preferreds diverged.

Insurance company MetLife, Inc.’s 4.75% series F non-cumulative preferred stock gained ground by the close.

Meanwhile, real estate investment trust New Residential Investment Corp.’s 7.125% series B fixed-to-floating rate cumulative redeemable preferred stock finished better.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.